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On October 1, 2010, Cody Doer established Banyan Realty, which completed the following transactions during the month: Cody Doer transferred cash from a personal bank,
On October 1, 2010, Cody Doer established Banyan Realty, which completed the following transactions during the month: Cody Doer transferred cash from a personal bank, account to an account to be for the business, S17,500. Purchased supplies on account, S1,000. Earned sales commissions, receiving cash, S 12,250 Paid rent on office and equipment for the month S3,800. Paid automobiles expense (including rental charge) for month 51,500 , and miscellaneous expenses, S3,100. Determined that the cost of supplies used was S725. Instructions Journalize enters for transactions(a) through (i), using the following account titles: Cash; Supplies; Accounts Payable; Cody Doer, Capital; Cody Doer, Drawing; Sales Commissions; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous. Journal entry explanations may be Supplies Expense; Miscellaneous Expense. Journal entry explanation may be omitted. Prepare T accounts using the account titles in (1), Post the journal entries to these accounts, placing the appropriate letter to the left of each amount to identify the transaction. Determine the account valances, after all posting is complete. Accounts containing only a single entry do not need a balance. Prepare an unadjusted trail balance as of October 31,2010. determine the following: mount of total revenue recorded in the ledger. Amount of total expenses recorded in the ledger. mount of net income for October. On October 1, 2010, Cody Doer established Banyan Realty, which completed the following transactions during the month: Cody Doer transferred cash from a personal bank, account to an account to be for the business, S17,500. Purchased supplies on account, S1,000. Earned sales commissions, receiving cash, S 12,250 Paid rent on office and equipment for the month S3,800. Paid automobiles expense (including rental charge) for month 51,500 , and miscellaneous expenses, S3,100. Determined that the cost of supplies used was S725. Instructions Journalize enters for transactions(a) through (i), using the following account titles: Cash; Supplies; Accounts Payable; Cody Doer, Capital; Cody Doer, Drawing; Sales Commissions; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous. Journal entry explanations may be Supplies Expense; Miscellaneous Expense. Journal entry explanation may be omitted. Prepare T accounts using the account titles in (1), Post the journal entries to these accounts, placing the appropriate letter to the left of each amount to identify the transaction. Determine the account valances, after all posting is complete. Accounts containing only a single entry do not need a balance. Prepare an unadjusted trail balance as of October 31,2010. determine the following: mount of total revenue recorded in the ledger. Amount of total expenses recorded in the ledger. mount of net income for October
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